The one-year-old state of Telangana in South India took a big step towards becoming the next great tech startup hub of the country. Ratan Tata, chairman emeritus of industrial conglomerate Tata Sons, inaugurated the T-Hub, touted as India’s biggest incubator for startups.
The incubator, the largest in the country for start-ups, is located at the International Institute for Information Technology (IIIT) at Gachibowli, and offers 70,000 sq feet area with infrastructure to start-ups willing to pay a fee to use the facility.
The Indian School of Business and National Law University are also mentoring the incubator, the first phase of which is known as Catalyst. At least 140 start-ups are expected to start at the Catalyst facility and will get a minimum of six months times to establish themselves after which they will move out to allow freshers to come in.
Addressing a press conference here on Thursday after inaugurating the start-up incubator T-Hub, Ratan Tata said:
“India was not recognised as an enterprising country in technology. It is time we unleashed the Indian tiger. We need to support start-ups with all our resources. I will be there to support the young engineers and scientists,” he said.
But the people of the former Hyderabad state had a different culture and felt they were numerically at a political disadvantage in the new Andhra Pradesh. They agitated for a separate state of Telangana, which finally got formed last year. Hyderabad will be the joint capital of both states for a period of 10 years, after which it will be the capital of Telangana.
Telangana IT Minister K T Rama Rao said that a board comprising industrialists and entrepreneurs would guide the T-Hub. “The Government wont interfere in the functioning of the T-hub and will function independently. It will be a model incubator when the second phase is also completed,’’ Rao said. The second phase will be set up with another Rs 150 crores and the facility will offer over 3 lakh sq feet space.
The hub has signed MoUs with Nasscom and the Internet and Mobile Association of India (IAMAI) that would bring in 10X accelerator to Hyderabad.